This blog is dedicated to the Iraqi Dinar

The Confidence Game (1/29/14)

Sometimes I get email from people who tell me about their efforts to talk some sense into a loved one about their involvement in the dinar. They’ll show them something that I’ve posted in the process. A typical response is “and who is that guy?”. The inference I believe is that Okie has connections with people high up in the government, or that Adam Montana is a Harvard graduate and a well connected entrepreneur who made money on the Kuwaiti dinar, or that Breitling is a professional investor with all these great contacts who hangs out with multi-millionaires …. etc. So who cares what this Sam guy has to say?

My response to that is this – I’m nobody. I’m not a professional investor. I’m not a guy who hangs out with Wall Street movers and shakers or politicians or CEOs of Fortune 500 companies or anything like that. I have no sources in the CBI, the IMF, the UST, or the UN, and from the track record of the gurus I have to conclude that they don’t either. The difference is I’m up front about it.

My sources are the CBI website which gives us the history of the Iraqi dinar and shows the financials for the CBI and the dinar, the DOJ that stated that the currency reform plan of the CBI is a redenomination rather than a revaluation, the IMF which states that the CBI’s policy is to maintain a stable exchange rate for the dinar, and the US Treasury who said that the main reason the CBI went to a crawling peg regime from Nov. 1, 2006 to Jan. 1, 2009 was to bring down the rate of inflation (not because their GDP and oil production were up), and that they only have a nominal amount of dinar for daily transactions. My sources also include Google and sites like Wikipedia that debunk many of the things the gurus have told us.

I’m not a prophet of God who has visions about the revaluation of the dinar. No, I’m just a guy who does his best to use the brain that God gave him. I read. I fact check. I endeavor to verify everything I’m told before I form conclusions. I’ve learned that the hard way, like so many other dinar investors.

I don’t expect anybody to believe anything that I say just because I say it. Again, I’m just an anonymous guy on the internet. You’re a fool if you trust me (or anybody else) just because I seem like such a nice guy. That’s why I provide links to so many of the things I say. I want you to read them for yourself and then form your conclusions. If you find out tomorrow that I’m an ax murderer or even worse, a Justin Bieber fan, you can separate my personal peccadilloes from the information that I provide.

The dinar world is full of charlatans. They’ll claim this or that to gain your trust. Once they do they can get you to voluntarily hand over your hard earned money without a gun pointing at you. It’s still theft, but it’s called fraud rather than robbery. The “con” in con man or con artist stands for “confidence”. If a con man can gain your confidence he can get your money, and that’s what he’s after. And of course it’s much easier to gain your trust if you can convince people that you know Dick Cheney or somebody high up in government, the military, or the business world. That’s why it’s so important that you don’t trust anybody that you don’t know with your money, especially anonymous dinar gurus on the internet.

From Wikipedia:

The intended victims are known as “marks” or “suckers”, and when accomplices are employed, they are known as shills.

A short con is a fast swindle which takes just minutes. It aims to rob the victim of everything in his or her wallet. A long or big con is a scam that unfolds over several days or weeks and involves a team of swindlers, as well as props, sets, extras, costumes, and scripted lines. It aims to rob the victim of thousands of dollars, often by getting him or her to empty out banking accounts and borrow from family members.

Confidence tricks exploit typical human characteristics such as greed, dishonesty, vanity, opportunism, lust, compassion, credulity, irresponsibility, desperation, and naïvety. As such, there is no consistent profile of a confidence trick victim; the common factor is simply that the victim relies on the good faith of the con artist. Victims of investment scams tend to show an incautious level of greed and gullibility, and many con artists target the elderly, but even alert and educated people may be taken in by other forms of confidence trick.

The marks in the dinar investment are typically church people with little education or investment experience, but of course educated people and people with some investment experience have also been taken in. The shills would be the people talking about how great the gurus connections are, or how their sources are confirming what the guru says, or that the Kuwaiti RV really happened just as the guru says it did. They can either do this on conference calls, in chat rooms, or simply by posting in a forum. A great example of this is “My uncle was in Kuwait and I know for a fact that he made over $100,000 on the Kuwaiti RV and he knows guys who made a lot more than that!”

The dinar investment would be considered a long scam. VERY LONG!!! LOL! And like most cons, there’s a team of swindlers with the dinar. To date we don’t know how many of these guys are working together or know each other, but I can promise you there’s a team of them, researching, writing, pumping, “confirming”, and praising their leaders. (This is all very easy to do on the internet where one person can create scores of identities to reinforce the notion that the RV is happening.) Some of them do audio or even video broadcasts with sets and props. They use scripted lines like “Bush said the war would pay for itself” or “the authors of the plan have put things in place and the latest developments are all part of the plan!”. Sometimes the scripts are more up-to-date like “Christine LeGarde met with Maliki this week and told him to get the RV done.” The more detailed and current the script is, the more believable it sounds to the marks.

You can call me names and make accusations if you want, but for 28 months now I’ve been telling the dinar community that nobody’s going to get rich from any RV, and I’ve posted hundreds of links to support that statement. So far I’m batting a thousand and the gurus are batting zero. Dinar investors have a choice to make. Stop listening to gurus and start researching the facts regarding the dinar, or place your financial well-being in the hands of hack gurus who are profiting at your expense and have no results to back up their talk. It’s up to you.